Intel agrees to sell the US a 10% stake, Trump says, hyping “great deal”

In a significant move, Intel has reached an agreement to sell a 10% stake in the company to the United States, a deal valued at $10 billion, as announced by former President Donald Trump during a press conference on Friday. This arrangement was reportedly finalized after discussions between Trump and Intel's CEO, Lip-Bu Tan. Trump, who had previously voiced concerns about Tan's connections to the Chinese Communist Party and even called for his resignation, revealed that the CEO appeared eager to secure his position during their meeting. "Tan walked in wanting to keep his job and he ended up giving us $10 billion for the United States," Trump stated. He emphasized that he suggested the partnership with the U.S. would be beneficial, to which Tan agreed, leading to the completion of the deal. The administration's initiative to acquire stakes in semiconductor companies like Intel appears to be influenced by Commerce Secretary Howard Lutnick. Sources suggest that this strategy is tied to the CHIPS Act funding, which has already been approved. Senator Bernie Sanders (I-Vt.) has also shown support for this plan, asserting that when microchip companies profit from federal grants, American taxpayers deserve a fair return. However, it seems that the Trump administration does not intend to pursue equity in every company benefiting from the CHIPS funding. Discussions indicate a focus on chipmakers that have not committed to enhancing their investments in the U.S. A government official, who spoke on the condition of anonymity, mentioned that the administration is not interested in acquiring stakes in companies like TSMC, which are actively increasing their investments in the U.S.